The Imperative of Professional Development in Organizational Success: Insights from Nigeria’s College of Insurance and Financial Management
The College of Insurance and Financial Management (CIFM), Nigeria’s leading institution for insurance education, recently convened its third Learning and Development Confab, themed "Nurturing Excellence: Unlocking Human Potential through Effective Talent Management." The event underscored the pivotal role of professional development in driving organizational success within the insurance and financial services sectors. CIFM’s commitment to fostering learning and growth was evident throughout the conference, as industry leaders, experts, and practitioners converged to discuss strategies for talent optimization and organizational effectiveness. The confab served as a platform for knowledge exchange, best practice sharing, and exploration of cutting-edge talent management techniques.
The conference opened with addresses emphasizing the importance of continuous learning and development in today’s dynamic business environment. Mrs. Yetunde Ilori, President of the Chartered Insurance Institute of Nigeria, stressed the need for collaboration and feedback from the industry, seeking input on how CIFM can better serve the insurance sector’s learning and manpower development needs. Mr. Akinjide Orimolade, Chairman of the College Board, highlighted the significance of equipping professionals with the skills necessary for effective administration and leadership. He underscored the value of human capital as the greatest asset in navigating the complexities of the evolving business landscape. Dr. Chizoba Ehiogu, Rector of the College, echoed these sentiments, emphasizing the relevance of the conference theme in the context of rapid technological advancements, evolving workforce demands, and changing business environments. She urged participants to actively engage, network, and embrace new perspectives to cultivate a culture of continuous learning within their organizations.
Dr. Afolabi Ajayi, a management consultant and guest speaker, emphasized that the future of work hinges on organizations’ capacity to attract, develop, and retain top talent. He stressed that human resources practitioners must proactively address emerging workplace trends, including technological integration, office automation, diversity and inclusion, compensation strategies, flexible work arrangements, remote collaboration, and cross-border engagement. Dr. Ajayi highlighted the need for customized retention strategies to align with evolving talent needs. This underscores the growing importance of tailoring HR practices to attract and retain skilled professionals in a competitive market.
Mrs. Chinenye Edward of Gracedge Limited provided insights into the transformative power of mentorship and coaching in the workplace. She highlighted the positive impact on employee development, engagement, retention, leadership development, and productivity. Mrs. Edward offered actionable strategies for organizations to implement mentorship and coaching programs, emphasizing their role in building a pipeline of future leaders and bridging potential leadership gaps. This focus on mentorship and coaching underscores the recognition of these practices as crucial for developing talent and fostering leadership within organizations.
Mrs. Oluyemisi Situ, a Chartered Accountant and Consultant at CRL Business Solutions, emphasized the importance of organizations positioning themselves as employers of choice to drive optimal results. She noted that HR professionals must strike a balance between setting performance metrics and fostering mentorship to build high-performing teams capable of exceeding stakeholder expectations. This highlights the need for a strategic approach to human capital management, integrating performance management with supportive development initiatives.
The conference culminated in an awards ceremony recognizing individuals and corporations for their support of CIFM’s training programs during the 2024 financial year. These awards acknowledge the valuable contributions of organizations and individuals in promoting professional development within the insurance and financial services sectors. The recognition of outstanding L&D personnel, organizations, and industry partners highlights the collaborative effort required to foster excellence and drive growth within the sector. This recognition further emphasizes the importance of ongoing professional development in the industry.
The CIFM Learning and Development Confab served as a crucial platform for industry leaders, experts, and practitioners to delve into the critical aspects of talent management and organizational effectiveness. The discussions and insights shared during the event reinforced the importance of continuous learning, adaptation, and strategic talent development in navigating the evolving landscape of the insurance and financial services sectors. The conference provided a roadmap for organizations to nurture excellence, unlock human potential, and achieve sustained success.
